#London #United Kingdom #Gen AI #Finastra #Filogix

Finastra Enhances Filogix with Generative AI Features

Finastra, a leading name in financial services software, has recently announced significant upgrades to its Filogix Expert Pro platform, targeting the Canadian mortgage market. These enhancements incorporate innovative generative AI capabilities designed to improve workflows and reduce manual errors, therefore maximizing productivity for mortgage brokers.

Jonathan Wootten, the Head of Filogix at Finastra, emphasized the growing interest in generative AI within the financial sector, stating that it has rapidly become essential due to the tangible value it brings to both service providers and their customers. With these new features, brokers can expect to spend less time on administrative tasks and focus more on client interactions. This launch aligns with Finastra's commitment to leveraging cutting-edge technologies to deliver faster, more efficient financial services.

New Features at a Glance

The newly introduced generative AI functionalities consist of several impactful tools:

• - Pro Chatbot: This feature provides instant answers to brokers' queries about the Filogix platform. By decreasing response times, it enhances overall customer satisfaction, allowing for smoother transactions.

• - Auto Emails: The upgraded Customer Relationship Management (CRM) tool now suggests email drafts for brokers. This includes relevant tags and custom copy designed to streamline communication with clients, alleviating the workload on brokers.

• - Auto Email Summary: Another useful addition, this function summarizes email communications between the broker and the client. It offers a clear view of pertinent updates and interactions, while also recommending necessary activities and notes based on past exchanges.

• - Document Data Extraction: With the ability to extract essential data from income and property documents automatically, brokers can save valuable time and enhance the accuracy of their information collection.

Adam Lieberman, Chief AI Officer at Finastra, noted in the Finastra Financial Services State of the Nation Survey that the adoption of AI technologies has significantly surged. As of now, around 61% of financial institutions are either utilizing or enhancing their AI capabilities, with a notable 35% specifically employing generative AI methods.

This illustrates the fast-paced evolution of technology within the financial sector and showcases how tools like large language models can be effectively integrated into existing financial solutions, such as Filogix.

Benefits of Filogix Expert Pro

Finastra's Filogix Expert Pro not only allows mortgage professionals to optimize their workflow but also enhances the overall experience for consumers. By centralizing operations and minimizing the time needed for various tasks, brokers can dedicate more attention to securing new business and finalizing deals. These advancements ultimately serve to cultivate a more efficient lending process.

In a market where competition is fierce, the ability to adopt new technologies is crucial for keeping up with consumer demands and expectations. Filogix's innovative approach powered by generative AI is set to redefine the standards of service delivery in the mortgage lending space, making it an exciting time for both brokers and clients.

For additional insights and details about the enhancements, visit the Finastra website, where comprehensive information about their products and services is readily available.

About Finastra

Finastra is at the forefront of financial services software solutions across various sectors, including Lending, Payments, and Banking. The company is dedicated to unlocking the potential of individuals and businesses by harnessing technology and collaborative efforts to shape the future of finance. Trusted by approximately 8,100 financial institutions – including 45 of the largest 50 banks worldwide – Finastra continues to lead the charge in innovative financial solutions.

For media inquiries, Caroline Duff, the Global PR Director, is reachable through her contact number and email for further details.